William J. Weyand is the new CEO of MSC.Software, which agreed to pay him the equivalent of US$4.1 million or so (at the current stock price of $11) over the next 2-10 years:
* Base salary of $485K per year for two years ($970K).
* Possible 100% bonus of the base salary (another $970K if conditions are met).
* Relocation assistance and other expenses (up to $102,370).
* Purchase up to 50,000 stocks at market value, with MSC pitching in another 200,000 stock units (4-to1) upon 50% vesting each year ($1,650K current value)
* MSC pitches in another 100,000 stocks if the price exceeds $15 in two years ($1,500K).
* MSC grants another 450,000 stocks at $9.89 (current profit about $450K) for ten years.
If the stock price reaches 15, then the deal could be worth $8.5 million or so.
The outgoing CEO, Frank Perna, Jr., rececives a $192,000-deal to perform consulting work for MSC.Software.
More details in Entry Material Agreement, Change in Directors or Principal Officers, Financial.
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